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Samsung BioLogics to embark on IPO process this week

Collected: 2016.08.09

Distributed: 2016.08.10

Source: Go Direct

Samsung BioLogics Co., the biopharmaceutical business arm of Samsung Group, is expected to embark on the process of going public on the main Kospi market by seeking preliminary approval from Korea Exchange on Thursday. Once listed, the market value of Samsung BioLogics is expected to reach about 10 trillion won ($8.96 billion), becoming one of the top 30 stocks by market capitalization in South Korea.

Samsung BioLogics is the nation`s largest contract manufacturing organization (CMO) of biopharmaceutical products and also world’s third-largest producer of biomedicines in terms of annual production capacity with 180,000 liters, after Switzerland’s Lonza Group with 240,000 liters and Germany’s Boehringer Ingelheim Pharmaceuticals Inc. with 210,000 liters.

The company plans to use the proceeds from the initial public offering (IPO) to expand its annual production capacity to 360,000 liters by 2018. It is expected to attract about 3 trillion won in the IPO.

Samsung BioLogics is the first pharmaceutical firm to be listed on the main Kospi market in a decade. The number of drug makers in the secondary Kosdaq market has increased from 30 in 2006 to 67 as of July this year while those on the Kospi market has remained unchanged at 47 during the same period.

Samsung BioLogics is currently focused on developing and commercializing bio-similar or generic medicines via Samsung Bioepis Co., a joint venture it set up in 2012 with United States’ biotechnology company Biogen Inc.

By Yong Hwan-jin

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